Jadestone Energy Share Discussion Threads

[zengas] 15/8/2018 14:34

Hi Spangle, more exposure in the UK I believe rather than Canada listing. More Cos planning to list here. I've never bothered creating threads before and just wanted to get some discussion up and running so if anyone else appears and wants to create a thread with charts etc please do (Charts bit early at this stage imo). No broker note yet that I've come across. More assets/opportunities to come.

The very recent webcast was good but no link now as far as I can see which says new presentation to come shortly but it included the CPR for the 2P asset value on just some of their projects at $564m/£420m with 3P at $915m/£650m (page 16).

Great CEO in building value. Huge vote of confidence with significant institutional investor holdings at 66% for those above 3% which could mean a low free float if there are others that are in the up to 3% range. I expect this to get some fair decent coverage too which will raise the profile.

I used to be the same keeping my interest in companies to below £50m, and missed out on and realised that some of the larger ones at £100m-£200m range could still be 10-20 baggers and beyond because they were a lot further down the road with their operations. Depends what your timescale and ultimate target is but I think post September this could be on the move.

[spangle93] 15/8/2018 14:14

Placeholder:

Aug 8th 2018 - For the purposes of the Disclosure Guidance and Transparency Rules, the total number of voting rights in the Company with effect from 8 August 2018 will be 461,009,478.

[spangle93] 15/8/2018 13:47

Hello Zengas - thanks for starting a thread- I looked a couple of days ago when JSE launched and couldn't find anything on ADVFN. Any chance you could add daily and longer term share price graphs to the header? I've no idea how to create a thread, so I don't know if this is easy or not.

Jadestone is a bit larger than the average M/cap I prefer, which is sort of UPL / TXP size. In fact, I was looking at it from the perspective of project work from the Vietnam developments cos Talisman is/was a client ;-) It's therefore harder to identify whether it's undervalued

Also, for industry workers, the Montara name evokes the reaction as Macondo which happened 6 months later, so they might possibly want to consider a name change!

Do you know why they chose to list on AIM rather than elsewhere? Was it just to raise the funds to purchase the Montara asset, or were there other reasons why a Far East based company wouldn't list on a bourse closer to home?

Will read up more -do you know if there's a broker note anywhere in the open WWW
TIA

[zengas] 14/8/2018 17:02

Extract (pre Montara acquisition) from 8 months ago re Jadestone CEO

Head-to-Head interview with Amanda Battersby, Upstream
www.upstreamonline.com

Blakeley on hunt for an elusive gem with Jadestone

Ambitious boss of independent builds on extensive experience he gained with Talisman Energy in Asia-Pacific region and North Sea.

Jadestone Energy chief executive Paul Blakeley is clear about his mission — spearheading the Singapore-headquartered independent to become the same regional success story he achieved with Talisman Energy in the Asia-Pacific region, and earlier in the North Sea too.

Jadestone’s existing portfolio includes the wholly-owned producing Stag oilfield off Australia, a half share in the producing Ogan Komering onshore block in South Sumatra, Indonesia, two gas fields set for development in Vietnam, and exploration assets in Vietnam and the Philippines.

He notes that many players, including industry heavyweights, have started to rationalise their portfolios, while some US independents have retreated from South-East Asian E&P for reasons such as balance sheet pressure, wanting to focus on unconventionals and, in some cases, even pressure from activist investors.

“That leaves the field wide open,” Blakeley says.
“What we really want to do — and it’s not rocket science, or clever or new — is to fill that space that I think is increasingly left open for a mid-size capability… A company with the ability to operate large fields developed by the majors but bringing additional skills in mature field asset management — entrepreneurial, lean on process, low-cost and efficient — and excited by the small add-on things that create a lot of incremental value,” Blakeley says.
“The opportunity to pursue these sorts of things is what brought the team at Jadestone together"

Talisman’s rise
Blakeley left Arco in December 1994 to join Talisman Energy as a senior vice president, accountable for the company’s North Sea business.
Under his leadership, Talisman — via asset enhancement as well as mergers and acquisitions — became the UK North Sea’s second-largest operator, with production of 160,000 barrels of oil equivalent per day, generating more than US$1 billion in annual free cash flow.

About 12 years ago, Blakeley then came to Asia to run Talisman’s regional business and create the same value growth story.

In 2011, he moved to Singapore, which is also home to the youngest three of his five children, while the eldest two are at university in Australia.

Blakeley has been officially recognised for his services to the oil and gas industry. In 2002 he was conferred an Officer of the Order of the British Empire by Queen Elizabeth II.

[zengas] 14/8/2018 09:52

Jadestone Energy.

Oversubscribed $110m placing at 35p. August 2018

Holdings declarable over 3% = 66% of stock held by -
Tyrus Capital 23.8%, Livermore Partners 6.92%, Ontario Teachers Pen Plan 4.2%, West Face L/T Global Opp 3.42%, Odey Asset Mngt 8.28%, Miton Asset Mngt 6.43%, Fidelity Intnl 3.25%, Baillie Gifford 3.21%, Capital World 3.18%, GLG Partners 3.04%.
Directors .86% (one director is m/d of Livermore which has 6.92%)

461m shares @ 35p = £161m m/cap.
$120m debt drawdown being paid for acquisition of Montara - Effective date 1/1/18 so will be some adjustment from that date to price now. Term 3 years at Libor+3% so about $47m/yr average.

Revenue should with Montara/Stag/Komering be close to 15,000 boepd (96% oil) and $350m+ revenue.
Potential 3k increase between Q4 and end Q2 next year at Montara & Stag - possible 18k boepd. (96% oil).
Strong cash flow to add further production asssets and cover drilling.
6 Ex Tailsman people. CEO took Tailsman Asia from 2 asset business/45k boepd to 500m P2/150k boepd and $6-$7b value. Ex Shell/Chevron/Maersk/Schlumberger/BP/Marathon.

Australia
Montara (100%) 28.2 mmbo P2 reserves + 10,300 bopd.
$2/b premium to Brent.
9 producing wells (Montara 4, Skua 2 and Swift/Swallow 3 + 1 injection).
Increase production by c 1700 bopd in 2019
2 infill wells included in 2P reserves Q2 + Q3 2019.
3 additional infill wells targetting 5.3 mmbls additional resource from 2020+.
Exploration upside - 8 leads identified.
Spare capacity in FPSO - Allows nearby discoveries to be quickly monetised.
Hub consolidation opportunities for tie-back of shut in fields and stranded discoveries.

Stag (100%) 17.1 mmbo P2 reserves + 3600 bopd.
11 producing wells + 3 injectors.
Infill well Q4 2018 targetting 1200 bopd.
2 wells planned Q2 + Q3 2019 and 2 in 2020.
2 near field exploration prospects identified.
---------------------------------------------
Ogan Komering PSC Indonesia to be 50% share on signing (early-mid Q4 possible).
Current 1400 boepd net (65% oil/34% gas) $5/b discount to Brent. Gas price $6/mcf.
*Independent reserves evaluation to be made when participation in psc confirmed*.
Early development of 3 gas fields.
Exploration upside.
Bolt on opportunities.
-------------------------------------
South West Vietnam
93.8 mmboe unrisked 2C - Project sanctioned for H2 2019 (2C to 2P)
First gas 2021
--------------------------------
Other assets Vietnam/Philippines details
Website

August 2018 Presentation

[hpotter] 23/9/2009 22:47

I've yet to recieve the circular that was posted on the 12th Sept. Has anyone else received their's?

[asmodeus] 28/8/2009 21:11

This was their explanation:

Both of the announcements were made on the same day (24 August 2009) however related to different days.

14.40 relates to 21 August 2009

11.87 relates to 14 August 2009

The latest therefore is 14.40 as at 21 August 2009.

[hpotter] 28/8/2009 20:36

asmodeus,
I think they forgot to issue the 14 August NAV RNS and when they issued the 21 August one felt obliged to also issue the 14th one.

If they are going to extend the life of JSE they will need to make a proposal PDQ. If not, there should be a few pence per share due to the income holders.

O/T. JDT (income & growth) is starting to look like a bargain once again. 30% dividend (2x current price) and, assuming the good times return sometime before 2017, a substantial NAV.

[asmodeus] 26/8/2009 14:27

There wrre 2 NAV announcements dated 24tyh Aug. The first says BAV for Grd. Inc. Shrs. = 14.40; the second says 11.87 ! (I have Emailed them)

[robizm] 07/5/2009 19:30

the nav was 9.9p on splitsonline at yesterdays close. i think they would extend it if ord shares have a decent nav.

[hpotter] 07/5/2009 13:24

Robism,
Do you think they might extend the life of JSE, similar to JDT?
I like the way the share price keeps moving without any trades. I suppose the NAV must be being monitored.

[robizm] 07/5/2009 12:37

I was wrong, share should start to moter between now and October as long as the FTSE carries on rising.

[robizm] 30/4/2009 12:44

But dont have much time left and have 30% in cash and share PORTFOLIO Is very defensive, need more recovery plkays.

[hpotter] 23/3/2009 19:37

As a geared share, the upside if the market goes North of 4000 is reminiscent of 2002.

[joan of arc] 28/10/2008 21:21

As an aside support the Kill the Spread campaign. It is in all our interests!!

See below :-




www.killthespread.com



October 2008 (2)

Dear Supporter,

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Talk to others Investors about the campaign
Post a link to the site on your Blogs
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Ask people to sign up at the website


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Kind regards



Campaign Coordinator
Kill The Spread

www.killthespread.com
[e-mail]

Please email us at [e-mail] - if you want to know more about Campaign - all question & comments are most welcome!

Recent News:


The London Stock Exchange is facing a High Court claim of anti-competitive behaviour from Plus Markets




Great Article by Tom Bulford





another mention from Dominic Frisby
(mention is at the end of this article)

[hindsight] 16/10/2006 09:48

Well done ISA23, you called JSE spot on too
Keep the ideas coming

[isa23] 09/10/2006 16:54

Well it seems my recommendations have finally come good. Atls & ddc up by about %20 each since about one and a half months ago. Should have become a tipster!!!!!

[isa23] 21/8/2006 14:52

The Board of Jupiter Second Enhanced Income Trust PLC (the "Company") believes that it is in the best interests of
Shareholders for the Investment Manager to be able to invest on the Company's behalf in certain property related
investment companies which are listed or to be listed on the London Stock Exchange.

I take it to mean the likes of ddc & atls, as uk commercial prop ITs all look overpriced...

[hindsight] 31/7/2006 20:13

Thanks for the info ISA 123, I will have a look
One theme I am sure of going forward is that the wealth transfer going on will continue from west to east, establised to emerging economies, and the EU is only going to make this more certain

[isa23] 27/7/2006 17:00

for what it is worth, I am back in JSE. With recent rises in underlying assets (specially Shell & Bp), discount to NAV has widened to about 18-20% which is unjustified given a talented manager in charge, a handsome 6.7% divi and zeros more that adequately covered.
I have also come across another interesting eastern european property trust. Atlas Estates (atls) floated at 341p in April with an NAV of 318p. It has since dropped to as low as 245, before recovering to about 265. It plans to pay 3% divi in 2006, 5% in 2007 & 10% in 2008 (all based on the floatation price of 341!!!). Management has recently started a share buyback program given the rediculously cheap share price. Sounds a no-brainer to me.

[hindsight] 29/6/2006 11:01

Yes please do, should have done so myself

[isa23] 29/6/2006 10:57

Thanks Hindsight. I'll post this on ddc thread if you don't mind (with your permission of course)
Cheers

[hindsight] 28/6/2006 11:30

Good news for ddc



In addition, Poland's property market has had an excellent first half of the year. Word from the professionals on the ground indicates that prices have risen between 20% and 30% in 2006 so far, which would give tremendous return on capital for investors there who can buy with typically 20 or 30% deposit. Warsaw's property prices remain amongst the lowest in Europe and the introduction of major industry to the city is attracting an increasingly young and wealthy population.

[isa23] 23/6/2006 09:51

yea I think NAV is probably 95-100p, but is hard to tell as some of it is still cash and underlying assets have probably appreciated by now. I called them the other day & asked for the annual report so I can have a better picture of what they're up to. Sounds good. Dawney Day is a reputable manager, and management have a sizable interest in each of their property funds (same goes for dtr, though it is 12% higher than a few weeks ago!). Numis has a 137p price target for ddc.
For what it's worth, I've recently bought into eet & alph (France & Spanish commercial property) for the yield. Some of these Asian Equity IT's are also becomimg interesting (aaif in particular, which pays divi in Aug. yields around 5%).